Discontinued Operations (Tables)

9 Months Ended

Sep. 30, 2020

Discontinued Operations [Abstract]

Summarized Financial Information For Discontinued Operations Text Block [Table Text Block]

Divestitures

The components of Discontinued operations, net of tax for the three and nine months ended September 30 were as follows:

	Three months ended				Nine months ended
In millions	2020		2019		2020		2019
Net revenues	$	—	$	873.4	$	469.8	$	2,555.8
Cost of goods sold	—		(569.2)		(315.8)		(1,728.6)
Selling and administrative expenses	(0.3)		(217.5)		(234.4)		(574.9)
Operating income	(0.3)		86.7		(80.4)		252.3
Other income/ (expense), net	(7.4)		30.6		(50.7)		21.1
Pre-tax earnings (loss) from discontinued operations	(7.7)		117.3		(131.1)		273.4
Tax benefit (expense)	2.2		(40.2)		10.7		(92.2)
Discontinued operations, net of tax	$	(5.5)	$	77.1	$	(120.4)	$	181.2

The table above presents the financial statement line items that support amounts included in Discontinued operations, net of tax. For the three and nine months ended September 30, 2020, Selling and administrative expenses included pre-tax Ingersoll Rand Industrial separation costs of $2.3 million and $113.9 million, respectively, which are primarily related to legal, consulting and advisory fees. In addition, for the nine months ended September 30, 2020, Other income/ (expense), net included a loss of $23.6 million related to the deconsolidation of Aldrich and its wholly-owned subsidiary 200 Park. The three and nine months ended September 30, 2019 includes $29.0 million and $45.1 million of pre-tax Ingersoll Rand Industrial separation costs within Selling and administrative expenses.

Disposal groups, Ingersoll-Rand Industrial [Text Block]

Net revenues and earnings from operations, net of tax of Ingersoll Rand Industrial for the three and nine months ended September 30 were as follows:

	Three months ended				Nine months ended
In millions	2020		2019		2020		2019
Net revenues	$	—	$	873.4	$	469.8	$	2,555.8
Earnings (loss) attributable to Trane Technologies plc	(0.5)		51.8		(83.0)		162.2
Earnings (loss) attributable to noncontrolling interests	—		0.9		0.9		2.3
Earnings (loss) from operations, net of tax	$	(0.5)	$	52.7	$	(82.1)	$	164.5

Earnings (loss) attributable to Trane Technologies plc includes Ingersoll Rand Industrial separation costs, net of tax primarily related to legal, consulting and advisory fees of $1.8 million and $95.9 million during the three and nine months ended September 30, 2020, respectively. In addition, the three and nine months ended September 30, 2019 includes $28.3 million and $44.4 million, respectively of Ingersoll Rand Industrial separation costs, net of tax.

Disposal Groups, Assets and Liabilities Held-for-sale [Text Block]

The components of Ingersoll Rand Industrial's assets and liabilities recorded as held-for-sale on the Condensed Consolidated Balance Sheet at December 31, 2019 were as follows:

In millions	December 31, 2019
Assets
Current assets(1)	$	1,130.6
Property, plant and equipment, net	454.3
Goodwill	1,657.4
Intangible assets, net	825.2
Other noncurrent assets	139.7
Assets held-for-sale	$	4,207.2
Liabilities
Current liabilities	$	823.7
Noncurrent liabilities	376.7
Liabilities held-for-sale	$	1,200.4

(1) Includes $25 million cash and cash equivalents in accordance with the merger agreement.

Disclosure of Long Lived Assets Held-for-sale [Table Text Block]

The components of Discontinued operations, net of tax for the three and nine months ended September 30 were as follows:

	Three months ended				Nine months ended
In millions	2020		2019		2020		2019
Ingersoll Rand Industrial, net of tax	$	(0.5)	$	52.7	$	(82.1)	$	164.5
Other discontinued operations, net of tax	(5.0)		24.4		(38.3)		16.7
Discontinued operations, net of tax	$	(5.5)	$	77.1	$	(120.4)	$	181.2

In addition, other discontinued operations, net of tax includes a loss of $23.6 million ($16.9 million net of tax) related to the deconsolidation of Aldrich and its wholly-owned subsidiary 200 Park, for the nine months ended September 30, 2020. Refer to Note 21, "Commitments and Contingencies," for more information regarding the deconsolidation and asbestos-related matters.